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2013 Profit Sharing


qwertyuiop

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I had a feeling we were going to get screwed somewhere in PS for this year...

 

FNA (thru Q3 2013) profit: $7.079 Billion

Special Items: $1.257 Billion

 

Net EBIT: $5.822 Billion

 

Thanks to those special items (of which most [~700M] are related to Europe, but we get charged for), we're so far losing $1,257 off of an average check of $7,079. Too bad the reps who thought of this "ingenious" profit sharing program didn't think to exclude the special items of the one money-losing market Ford is still doing business in.

 

Don't think Europe's woes apply to us? Think again. Page 86 of Volume III (SUB/Profit Share agreement) specifically states they exclude special items from FNA EBIT, regardless of market.

 

We still have one quarter to go, but don't look for this year's check to be bigger than last year's - it'll be about the same, if not a little less. Still (depending on 4Q results), expect the per-hour profit share to be about $3.4245/hour. On 2080 hours, this equals about $7,122.96.

 

If you want a quick way to figure your hours (instead of going thru all of your paystubs), go to Labor. They have this information at the ready for everyone and it won't take but 2 minutes for them to pull it up.

Well, it's much larger. Thanks, Nostradamus.

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When figuring out the eligible hours for profit sharing, do vacation/personal days and holidays get included or is it strictly hours worked?

Vacation, personal, straight time hours worked, bereavement, and any hours paid while on Union business.

Edited by Pioneer
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Union said Ford made 8.8 billion in a statement they put out before Ford even announced earnings, Ford said they made 8.6 billion!

 

Union should let Ford announce earnings!!!

 

http://www.autonews.com/article/20140128/OEM/140129779/ford-posts-3-billion-quarterly-profit-aided-by-tax-gains

 

 

"In North America, Ford earned a pretax profit of $1.7 billion in the fourth quarter, 9 percent less than the same period a year ago. But its full-year earnings for the region rose 5 percent to $8.8 billion, which the company said was a record."

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